nVerses Capital LLC Takes Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

nVerses Capital LLC purchased a new stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 800 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of Medpace by 29.0% during the 2nd quarter. Van ECK Associates Corp now owns 14,452 shares of the company’s stock valued at $5,952,000 after purchasing an additional 3,251 shares in the last quarter. Duncker Streett & Co. Inc. grew its position in Medpace by 67.9% in the second quarter. Duncker Streett & Co. Inc. now owns 539 shares of the company’s stock worth $222,000 after acquiring an additional 218 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Medpace by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 4,340 shares of the company’s stock worth $1,787,000 after acquiring an additional 32 shares in the last quarter. Legacy Advisors LLC grew its position in Medpace by 1.3% in the second quarter. Legacy Advisors LLC now owns 4,747 shares of the company’s stock worth $1,955,000 after acquiring an additional 59 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Medpace in the second quarter worth $61,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Robert W. Baird cut their target price on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Medpace from $395.00 to $336.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. William Blair reiterated an “outperform” rating on shares of Medpace in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, TD Cowen lowered their price target on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $423.00.

Medpace Stock Down 2.9 %

Shares of NASDAQ:MEDP traded down $10.67 during midday trading on Friday, hitting $355.27. 655,785 shares of the stock traded hands, compared to its average volume of 230,466. The stock has a market capitalization of $11.01 billion, a PE ratio of 36.22, a P/E/G ratio of 1.85 and a beta of 1.36. The business’s 50 day moving average is $397.14 and its two-hundred day moving average is $396.90. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.54 by $0.21. The firm had revenue of $528.10 million during the quarter, compared to the consensus estimate of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 55.14%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. As a group, sell-side analysts forecast that Medpace Holdings, Inc. will post 11.66 earnings per share for the current year.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.